RAWALPINDI : Oct 8 : The gold prices have rebounded after touching six months low level in the last one week.
According to Markazi Sarafa Union Rawalpindi , the gold prices shot up by Rs 6 thousand per tola in the last two days. The data released by Markazi Sarafa Union Rawalpindi indicated that gold prices increased from Rs 189000 per tola for 24 carat to Rs 195000 on Sunday. The girl shed its price massively amidst fear of a countrywide crackdown on the traders involved in smuggling of precious metal .
The Markazi Sarafa Union reported the highest ever gold rates in Pakistan on September 3 they shot up to Rs 240000 per tola for 24 carat. The gold market, however ,started to crash and the precious metal prices reduced from Rs 240000 on September 3 to Rs 189000 per tola on October 5 .
Big decrease in gold prices was being seen in the context of the government policy of chasing down those gold traders who are involved in its smuggling . After a week or so the gold prices have started to pick up momentum again .
The gold smiths believe that the gold prices may not slip down further as the international market is again in bullish trend . ‘I do not see further decrease in gold prices in Pakistan as the international market is again becoming bullish ‘, said Mr Mohammad Rafiq owner of Murree Jeweller in Rawalpindi .
